Essentials of MIS Chapter 3
Benchmarking - correct answer-Involves comparing the efficiency and
effectiveness of your business processes against strict standards and then
measuring performance against those standards
Best practices - correct answer-Identified by consulting companies, research
organizations, government agencies, and industry associations as the most
successful solutions or problem-solving methods for consistently and
effectively achieving a business objective.
Business process management (BPM) - correct answer-An approach to
business that aims to continuously improve business processes
Business process reengineering(BPR) - correct answer-The radical redesign
of business processes to maximize the benefits of information technology
Disruptive technologies - correct answer-Substitute products that perform as
well or better than anything currently produced
Franchiser - correct answer-Have the product created, designed, financed,
and initially produced in the home country but rely heavily on foreign
personnel for further production, marketing, and human resources
Synergy - correct answer-develop when the output of some units can be used
as inputs to other units, or two organizations can pool markets and expertise,
and these relationships lower costs and generate profits
Quality - correct answer-product or service's conformance to specifications
and standards
Six sigma - correct answer-A specific measure of quality, representing 3.4
defects per million opportunities
Value chain model - correct answer-Highlights specific activities in the
business where competitive strategies can best be applied and where
information systems are most likely to have a strategic impact
Benchmarking - correct answer-Involves comparing the efficiency and
effectiveness of your business processes against strict standards and then
measuring performance against those standards
Best practices - correct answer-Identified by consulting companies, research
organizations, government agencies, and industry associations as the most
successful solutions or problem-solving methods for consistently and
effectively achieving a business objective.
Business process management (BPM) - correct answer-An approach to
business that aims to continuously improve business processes
Business process reengineering(BPR) - correct answer-The radical redesign
of business processes to maximize the benefits of information technology
Disruptive technologies - correct answer-Substitute products that perform as
well or better than anything currently produced
Franchiser - correct answer-Have the product created, designed, financed,
and initially produced in the home country but rely heavily on foreign
personnel for further production, marketing, and human resources
Synergy - correct answer-develop when the output of some units can be used
as inputs to other units, or two organizations can pool markets and expertise,
and these relationships lower costs and generate profits
Quality - correct answer-product or service's conformance to specifications
and standards
Six sigma - correct answer-A specific measure of quality, representing 3.4
defects per million opportunities
Value chain model - correct answer-Highlights specific activities in the
business where competitive strategies can best be applied and where
information systems are most likely to have a strategic impact
